Question

What is globalization ? Explain its impact on the economy of the country .
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Answer 1

Answer:

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Explanation:

While globalization has radically increased incomes and economic growth in developing countries and lowered consumer prices in developed countries, it also changes the power balance between developing and developed countries and affects the culture of each affected country.

Answer 2

Answer:

Explanation:

. , , Economic globalization is increasing GDP in all participating countries. At the same time, however, it is also intensifying the shortages in all national economies. This has an impact on income distribution. Globalisation therefore has negative income effects for certain people and regions in the countries involved. . . .

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